Fear of coronavirus second wave stalks stock markets | Malay Mail

Pedestrians walk in front of a quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo May 1, 2020. — AFP pic

Shares in Deutsche Bank fell 4.4 per cent after it was reported that top managers will waive one month of fixed pay in an effort to cut costs, while fellow German lender Commerzbank and the Netherland’s ABN Amro slumped following first quarter losses. Oil markets, which have plummeted this year due to a combination of a collapse in demand and a supply glut, lost further ground.

The mood was further soured by proposed legislation by a leading US Republican senator that would authorise President Donald Trump to impose sanctions on China if it fails to give a full account of events leading to the coronavirus outbreak.

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